bp boss says oil prices will fall, page-5

I could not agree more with his sentiments, the price will fall, its a commodity and its demand that drives the price, in this case as in the past a lot of the price is created by the spin doctors who stand to profit hugely from the hype, China / India demand, ME wars etc etc, if you think about is this not the first squeeze thats been put on oil, and it wont be the last.

I certainly think $50 is coming, $40 may be a bit optimistic but I would not be surprised.

The positive side effect from High fuel prices is the hightened speed at which alternatives energy sources are advanced and the drop it creates in consumer demand which in turn slows the crazy rate of economic growth in China / India etc which slows our own & US's economic demise, you just cant keep exporting jobs and expect to retain a high living standards, its obvious that as theres gets better ours will get worse, its happening as we speak, the new IR laws have been designed to allow us to remain competitive in the world market, we cant have it both ways I am afraid, unless we are willing to change our thinking we might as well get used to it imho, the way ahead is to value add to our commodities here and we set the price this end, at least that way we control the supply of the raw materials needed by these expanding economies, unfortunately atm foriegn owned companies are making huge profits sending out our Iron ore etc while we earn a pittance in royalties and whats worse the aussie consumers are buying manufactured goods back at a premium, none of them made here, meanwhile their economies are growing at alarming levels and we are battling to keep pace, soon we will fall behind and remain there unless like I said we get smart, the present side effect of the jobs boom in WA that nobody thinks will end will as soon as the construction phase of the production ramp ups of the majors is completed, then they will drop the price and drive out the juniors who are sticking their heads up atm and make bigger profits than ever, then lets see how we are going, don't believe me, just watch.

Monday morning rant......LOL